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The Government has Developed a Framework for Cooperation between Public and Private Sectors

The Government has Developed a Framework for Cooperation between Public and Private Sectors

The Government of Georgia announced to work out the framework for cooperation between public and private sectors.

The Prime Minister says that Georgia will be able to involve more private companies in the process of infrastructure modernization.

“We need a framework for cooperation of international standards between private and public sectors in order to attract players with high reputation and quality in the country, as they need not only to be contractors, but also investors in infrastructural projects. On the one hand, this will improve the quality of implementation of infrastructural projects; while on the other – the investment environment of the country, which will make it more attractive to private companies and on the third hand – this is important to discharge the state sovereign balance, i.e. budgetary expenditures. We will definitely need to expand the state budget for the implementation of larger scale projects and maximally involve private companies in the implementation of important infrastructure projects”, – Georgian Prime Minister said at a government meeting.

The draft bill is worked out in cooperation with European Bank for Reconstruction and Development, Asian Development Bank, International Monetary Fund and Ministry of Georgian Economy. The bill has been sent to the parliament for ratification.